News by M

Shares of Gadang Holdings Bhd (KL:GADANG) erased three weeks of gains after TA Securities, the sole research house covering the stock, downgraded the construction company to ‘sell’ on weaker-than-expected results.

Capitaland Malaysia Trust (KL:CLMT) is eyeing more industrial and logistic assets in Johor, given the robust demand and positive economic sentiments there.

AME Elite Consortium Bhd (KL:AME) is selling four industrial properties in Johor to its 49.62%-owned unit AME Real Estate Investment Trust (KL:AMEREIT) for a total of RM119.5 million, to realign its property investments into a REIT.

CapitaLand Malaysia Trust (KL:CLMT) said it is positive on its earnings outlook for this year, supported by sustained domestic earnings, an uptick in tourist arrivals and better occupancy rates for its retail malls.

Gadang Holdings Bhd’s (KL:GADANG) net loss narrowed to RM9.37 million for its fourth quarter ended May 31, 2024 (4QFY2024) from RM27.7 million a year ago, as revenue expanded due to higher contributions from its construction division.

CapitaLand Malaysia Trust (KL:CLMT) posted a 15.2% jump in its second quarter net property income from the same quarter a year ago, as most of the malls within its portfolio recorded higher revenue as a result of positive rental reversions and higher occupancies.

Noteworthy:

• Freehold
• Built-up size: 3,992 sq ft
• Land size: 3,000 sq ft
• 5 bedrooms, 6 bathrooms
• Unfurnished
• Nearby amenities: MRT Taman Suntex, MRT Sri Raya, Oxburgh International School, Cempaka National Schools, Columbia Asia Hospital-Cheras, Cheras LeisureMall, Alam Damai Recreational Park, EkoCheras Mall, Ah Pek Hill Trail
• Accessibility: CKE, SUKE, SALAK, Jalan Cheras, Jalan Hulu Langat

When: March 2024

SC Estate Builder Bhd (KL:SCBUILD) is forming a consortium to bid for projects with a total capacity of 2,000 megawatts (MW) under the fifth large-scale solar programme (LSS5).

Petroliam Nasional Bhd (Petronas), which is seeking to establish a carbon capture and storage (CCS) hub in Pahang, has inked a land rental agreement with Kuantan Port Consortium Sdn Bhd for the project.

Industrial space solutions provider AME Elite Consortium Bhd (KL:AME) plans to launch the 176-acre Northern TechValley industrial park in Penang, with a gross development value (GDV) of RM1 billion, in the second half of 2024 (2H2024).